Says Compromise Deal Will Help U.S. Workers, Opens Door for FTA Action

Washington DC – The National Foreign Trade Council (NFTC) today commended the Administration and Congressional leaders for working together to come to an agreement on the extension of the Trade Adjustment Assistance (TAA) program. NFTC says the deal announced today will help thousands of workers and pave the way for passage of the pending free trade agreements (FTAs) with Colombia, Panama and South Korea.

The NFTC released the following statement:

"We welcome the news that political differences have been put aside and that an agreement has been reached on TAA," said NFTC President Bill Reinsch. "TAA is critical to ensuring that U.S. workers adversely affected by trade receive benefits and acquire new skills, allowing them to re-enter the workforce. Before the 2009 version of the program expired, thousands of workers benefitted from this program, and the NFTC commends the Administration and Congress for working together to ensure this essential element of our trade policy is renewed. The agreement reached also opens the door for Congressional consideration and approval of the pending FTAs, and now it's time to get down to business without further delay."

"We are pleased that a renewal of TAA is in sight," said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. "The program has always enjoyed bipartisan support and today's announcement makes clear that both the Administration and Congress are serious about enhancing U.S. economic growth and competitiveness through the advancement of the entire U.S. trade agenda."

"We look forward to working with Congress to ensure that all three pending trade agreements are approved before the August recess," Reinsch concluded.

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Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York. Follow us on: